Bovespa Plunges, Seen Hitting New Lows

Bovespa Plunges, Seen Hitting New Lows

Equity

Brazil’s Bovespa closed at a startling 35,069 points Wednesday, down 10.18% at its lowest point since September 2006. The close was only slightly above the low of the day at 35,027, adding negative technical pressure. The Dow Jones meanwhile fell 5.7% amid mounting fears of global recession. The Bovespa’s fall could well continue, as LatAm equity generally overshoots developed world stock pain. “It could easily fall below 35,000 and keep moving lower,” says a secondary equity market executive at

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